Global Light Weapons market growth 2024, Forecast To 2033
5 Feb, 2024
The light weapons market has displayed strong growth, advancing from $12.13 billion in 2023 to $13.27 billion in 2024, with a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period is attributed to counter-terrorism operations, law enforcement needs, small arms proliferation, geopolitical tensions, and firearms trade. The market is poised for strong growth, reaching $18.53 billion in 2028, with a CAGR of 8.7%. Contributing factors include unmanned aerial systems (UAS), biosecurity threats, global health crises, chemical and biological protection threats, and demilitarization initiatives. Major trends in the forecast period encompass modular weapon systems, non-lethal weaponry, miniaturization and compact design, integration of electro-optical sights, and remote weapon stations (RWS).
Global Light Weapons Market Key Driver
The light weapons market is set to expand with the rising instances of terrorist activities and conflicts globally. Light weapons, including pistols and rifles, are crucial for law enforcement to combat such threats. The Global Terrorism Index reports a doubling of deaths from terrorist attacks in 2022, emphasizing the need for light weapons. This surge in illegal activities fuels the growth of the light weapons market in 2023, 2024, and 2028.
Get A Free Sample Of The Global Light Weapons Market ReportGlobal Light Weapons Market Segments
The global light weapons market covered in this report is segmented –
1) By Type: HMG, Light Cannon, MANPAT, Mortar, MANPAD, Grenades, Missiles, Launcher, ATW, Landmine
2) By Application: Defense, Homeland Security
3) By Technology: Guided, Unguided
4) By Materials: Steel, Polymers
By Geography: The regions covered in the Light Weapons market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Major Light Weapons Industry Players
Lockheed Martin Corporation, Alliant Techsystems Inc., Rheinmetall AG, Raytheon Technologies Corporation, Thales Group, BAE Systems plc, Northrop Grumman Corporation, General Dynamics Corporation, FN Herstal Group, Heckler & Koch GmbH, Kalashnikov Concern, SIG Sauer Inc., Colt's Manufacturing LLC, Beretta SpA, Smith & Wesson Brands Inc., Barrett Firearms Manufacturing Inc., Taurus Holdings LLC, Savage Arms, Steyr Arms, IWI Ltd., Springfield Armory Inc., Ceská zbrojovka AS, Mauser Jagdwaffen GmbH, Radom LLC, Serbska Fabrika Automobila, Arsenal Inc., Zastava Arms, China North Industries Group Corporation Limited., HS Produkt d.o.o.
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Light Weapons Market Overview
Light weapons refer to weapons designed for use by two or three persons serving as a crew can be carried and used by a single person. These are incendiary devices, crew-served kinetic firearms, or shoot explosive munitions.
Light Weapons Global Market Report 2023 provides data on the global light weapons market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The light weapons market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.